Petrobras Lifts Oil Output 15%, Sets Multiple Production Records

Petroleo Brasileiro S.A., also known as Petrobras (NYSE: PBR), has announced its second-quarter results, showing a significant increase in oil production and refining efficiency. The company lifted its 2Q26 oil output by 15% compared to the same period last year, thanks to improved operational efficiency and strategic initiatives.

The total oil and natural gas production reached a new record of 3.34 MMboed, with operated production and own production in the pre-salt also reaching new highs. The company's Búzios platforms surpassed the 1,219mbpd operated production milestone on June 26, while Mero recorded daily production of 788.4 mbpd on June 23.

Petrobras' refining efficiency also improved, with a quarterly record utilization factor (FUT) of 101.2% in 2Q26. The company processed 73% of pre-salt oils in its refining system and reached 100% processing capacity for these oils in the distillation feedstock.